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Nvidia replaces Tesla as Wall Street's most traded stock

Nvidia replaced Tesla as the most traded stock on Wall Street on February 20. This is another important result after Nvidia became the third largest stock in the U.S. stock market by market capitalization. This also reflects investors’ determination to bet on artificial intelligence.
Nvidia will announce its fourth quarter and full-year financial results for fiscal year 2024 on February 22, which will become one of the most watched events on Wall Street this week. Some analysts believe that Nvidia's gains in 2024 may not be as strong as last year. The company's stock price fell by about 5% on February 20, reflecting investor nervousness ahead of the earnings report.

In the past 30 trading days, the average daily turnover of Nvidia shares exceeded US$30 billion, surpassing Tesla's US$22 billion. Apple, which ranks third, has an average daily transaction volume of US$10 billion. According to data from the London Stock Exchange, the daily trading volume of Nvidia shares has exceeded US$35 billion many times in recent years.
It is reported that Nvidia's current share of the high-end artificial intelligence chip market is about 80%. Its stock market value has recently surpassed Amazon and Google's parent company Alphabet, respectively, becoming the third largest company on Wall Street by market value, second only to Microsoft and Apple.